Grant Highlights: 2023 Australian Federal Budget

2023 Australian federal budget

The 2023 Australian federal budget from the Albanese Labor Government aims to improve the government’s deficit and debt profile while addressing cost-of-living pressures, avoiding recession and continuing to carry the economy through the difficult ‘postcovid’ period. This overview provides a concise summary of the key initiatives outlined in the budget as well as confirmed grant programs.

As a brief overview, lets examine some of the key themes that emerged from the 2023 Australian federal budget overall:


A $1.5 billion electricity bill relief package in the 2023 Australian federal budget will assist over 5 million households and 1 million small businesses, providing up to $500 for eligible households and up to $650 for small businesses.

  • Single parents will benefit from a $1.9 billion increase in financial support over five years
  • JobSeeker payments, Austudy, and Youth Allowance will increase by $40 per fortnight
  • The Paid Parental Leave Scheme receives a $0.5 billion boost benefiting around 180,000 families.
  • The Child Care Subsidy, starting in July will reduce childcare costs for approximately 1.2 million families earning up to $530,000 per annum
  • Eligibility for a higher JobSeeker base rate will expand to individuals over 55 years old who have received the payment for more than nine consecutive months.


The 2023 Australian federal budget outlines several initiatives to support small businesses. These include:

  • $310 million in tax deductions for energy-saving upgrades to certain depreciating assets, as well as the availability of a $20,000 instant asset write-off.
  • Additionally, small businesses and startups will benefit from the new $392.4 million Industry Growth Program, aimed at facilitating commercialisation and operational growth
  • $101.6 million over five years for cyber security measures, ensuring the protection of small businesses from cyber attacks


Enhancing healthcare accessibility and affordability is another area of significant investment including:

  • The bulk billing incentive for common consultations has tripled, amounting to an additional $3.5 billion benefiting approximately 11.6 million Australians.
  • The Pharmaceutical Benefits Scheme receives a $2.2 billion boost over five years, enabling faster access to new medicines.
  • The National Disability Insurance Scheme (NDIS) will experience an average increase of 10.4%, with a growth target of no more than 8% by July 2026.
  • A wage rise of 15%, worth $11.3 billion for 250,000 aged care workers.


The 2023 Australian federal budget includes a number of green initiatives, including:

  • A Net Zero Authority will coordinate Australia’s transition to net zero emissions, supporting workers in coal-dominated regions and attracting investments in renewable energy industries.
  • An additional $4 billion, including $2 billion for the Hydrogen Headstart program, will be invested in renewable energy.
  • A $1.3 billion Household Energy Upgrades Fund incentivizes energy-saving upgrades and provides low-interest loans for households.
  • The government aims to invest $40 billion in renewable energy, driving towards a renewable energy superpower status.


Within the 2023 Australian federal budget, we have identified a range of confirmed grant programs, representing exciting prospects for potential funding in the upcoming financial year. However, it is important to note that this list is not exhaustive, as significant investment areas continue to yield grants that are yet to be announced. Take, for instance, the $15 billion National Reconstruction Fund, poised to generate future grant opportunities, but details are limited on how this funding will flow at this stage.

Childcare and Education:

  • Early Learning Childcare Facilities Improvement Grant ($0.4 million) – Funding to improve facilities at early learning centers and community organizations.
  • Closing the Gap Outcomes and Evidence Fund ($38.6 million) – Projects supporting Aboriginal and Torres Strait Islander communities, focusing on reducing child removal and family violence.
  • Indigenous Boarding Providers Grants Program ($21.6 million) – Grants for boarding providers to support Aboriginal and Torres Strait Islander students in rural and remote areas.

Community Infrastructure and Development:

  • Thriving Suburbs Program ($211.7 million) – Grants for community infrastructure in urban and suburban areas.
  • Remote Airstrip Upgrade Program ($13.5 million) – Enhancing safety and access at remote airstrips for improved air connectivity to remote communities.
  • National Road Safety Action Grants Program ($43.6 million) – Grants for community education, vulnerable road users, technology, and research to improve road safety.

Workforce Support:

  • Disability Workforce COVID-19 Leave Grant ($14.1 million) – Financial support for disability workers who contract COVID-19 without access to leave entitlements.
  • Extension of the General Practice Incentive Fund ($17.5 million) – Extension of the fund supporting general practice activities until June 2024.
  • Supporting Women in the Workplace ($5.0 million) – Grants to support women in historically male-dominated trade apprenticeships.

Technology and Innovation:

  • Regional Connectivity Program – Broadband and Mobile Service Upgrade ($10.0 million) – Upgrades for digital connectivity needs in Central Australia.


  • Social Enterprise Development Initiative ($11.6 million) – Grants, education, and mentoring for social enterprises to participate in social impact investing.
  • Support for Australian Interactive Games Businesses ($12.0 million) – Support for growth and capitalizing on emerging opportunities in the interactive games industry.
  • Industry Growth Program ($392.4 million) – Support for SMEs and startups in commercializing ideas and operations.

Sports and Recreation:

  • Local Sporting Champions Grants ($8.3 million) – Support for young Australians to participate in sporting competitions.

Other Initiatives:

  • News Media Assistance Program ($1.6 million) – Support for public interest journalism and media diversity.
  • Regional Arts Fund ($8.5 million) – Increased funding for cultural development in regional and remote communities.